Oyuntsetseg is 50 years old and lives with her husband and 3 kids in a ger (Mongolian yurt) in Selenge province, Mongolia. Her husband helps with her business. Two of the kids are employed and the youngest one is a college student. Oyuntsetseg started her consumer retailing business in 2000 by renting a counter in the market. She sells items such as towels, flashlights, hairpins, bandeaus and socks, etc.. She is well known by her quality products and low prices. Over the years, she gained many trusted suppliers and regular customers. She is a sharp and hardworking woman who says, "Now that my boy joined a college, I have to work even harder in order to support him." She's requesting 2,000,000 MNT to buy additional supplies.
This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.